Coremetrics Achieves Record Growth in 2007
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Sees Demand for Solutions Grow as Digital Marketing Optimization Market
Matures
SAN MATEO, Calif., Jan. 15 /PRNewswire/ -- Coremetrics, the leading
provider of digital marketing optimization solutions, has achieved over 70%
growth in new business for 2007 and a compound annual growth rate of 61% over
the past five years. The company has experienced a surge in demand for its
digital marketing solutions, bringing a raft of new clients on board and new
products to market, as well as receiving industry recognition from leading
analyst firm, Forrester Research.
Over the course of the year, Coremetrics has dramatically increased its
customer base by 46%, adding clients from diverse sectors, such as B&H
Photo-Video, Consumer Cellular, Desjardins Group, Diageo, eImprovement.com
LLC, Lastar, Loews Hotels, Newegg.com, Orkin, Inc., Panasonic, Publishers
Clearing House, Shane Co. and VEGAS.com. The company also maintained its
leading position as the provider of services to the top online retailers in
the industry.
In September 2007, Coremetrics Online Analytics was named as a Web
Analytics "Leader" in The Forrester Wave(TM): Web Analytics, Q3 2007 report,
with the highest score for "Strategy," a section of the report designed to
predict a vendor's likelihood of future success. In addition, the company
received the highest score in "Product Direction," a sub-category designed to
showcase a vendor's product strategy.
During 2007, Coremetrics launched several new products and enhancements to
its digital marketing optimization suite: Marketing Attribution with 3D
Marketing Analytics, Coremetrics 2008, Coremetrics SMB Solutions and LIVEmail
2.0. With these new products, Coremetrics is able to provide its customers
with multi-faceted analysis of their digital marketing strategies, in order to
fully comprehend online consumer behavior over a lifetime, rather than just at
the first or last click.
Additional 2007 Coremetrics highlights include:
-- International expansion: A key part of Coremetrics' strategy in 2007
was continued growth and increased presence in overseas markets, with a
major focus on EMEA and the Asia Pacific region. The company announced
the appointment of key executives across EMEA and in Australia, who
will be core to the company's ongoing international growth and
expansion. During the course of 2008, Coremetrics plans to
significantly increase its headcount in the EMEA region, as well as
establishing presences in China and Japan.
-- Coremetrics once again partnered with IBM, capitalizing on Web 2.0
features to provide embedded analysis for WebSphere Commerce Web 2.0
Store customers, and to provide customers with a more streamlined user
experience. Among the companies to benefit from this partnership was
philosophy, Inc.
-- Performance improvements -- During 2007, Coremetrics continued to focus
on increased scalability, with a 40% increase in processed data and
more than 400 trillion transactions managed. It also cemented its
position as an innovative SaaS provider, uniquely positioned to offer
hands-on business support in conjunction with an on-demand solution
that embeds industry-specific best practices, helping clients interpret
and make best use of their data.
"Over the next year, our own internal research shows that overall digital
marketing spend will reach approximately $22 billion, so it's imperative that
brands understand how to maximize these efforts, so they can reap substantial
ROI," said Joe Davis, President and CEO of Coremetrics. "With recent
consolidation in the digital marketing optimization space leading to some
uncertainty, companies are looking for a clear, consistent partner, who is
vested in their long-term strategy and success. Coremetrics has proved its
strong leadership in this industry, and we look forward to an even more
successful 2008."
About Coremetrics
Coremetrics is the leading provider of digital marketing optimization
solutions. Its solutions generate high return on online marketing investment
and continue to pay daily dividends in improved marketing performance. Over
1,000 online business sites, transacting over $15 billion this year, are now
using Coremetrics' Software as a Service (SaaS) solution to optimize online
marketing efforts. Coremetrics' solutions encompass advanced online analytics
and precision marketing applications, including search engine bid management,
email marketing and cross sell applications to acquire customers more cost
effectively, increase conversion rates, and increase lifetime customer value.
Clients have recognized over $300M in documented ROI and 87% of clients
recognize ROI in 12 weeks or less. The company is privately held with funding
from Accel Partners, FTVentures, and Highland Capital Partners, is
headquartered in San Mateo, California and competes with Omniture and
Webtrends. To learn more about Coremetrics, visit http://www.coremetrics.com
or call 877-721-CORE.
Coremetrics has strongly supported online privacy since its inception. To
learn more, visit http://www.coremetrics.com/privacy.
SOURCE Coremetrics
Press|Analyst Inquiries, Bryan Pope of LEWIS PR, +1-415-992-4400,
coremetricspr@lewispr.com, for Coremetrics
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